Alnylam's stock down despite positive heart disease drug study results.

From Nasdaq: 2024-09-02 13:56:00

Shares of Alnylam Pharmaceuticals, Inc. were down 8.5% on Aug. 30 after announcing data from the phase III HELIOS-B study on Amvuttra for expanded indication. The study met primary endpoint, showing a significant reduction in mortality. Vutrisiran had a 30% mortality reduction, though deemed non-significant, impacting stock performance negatively. Amvuttra contributes significantly to Alnylam’s revenue, generating $425.4 million in the first half of 2024.

Alnylam reported promising data from the HELIOS-B study in June 2024. They are set to make global regulatory submissions and file for a supplemental new drug application with the FDA using a Priority Review Voucher later in 2024. If vutrisiran is approved, it could become the new standard of care for ATTR amyloidosis with cardiomyopathy, potentially boosting sales and expanding the patient population.

Alnylam currently has a Zacks Rank #3 (Hold). Other top stocks in the biotech sector include Illumina, Inc., Krystal Biotech, Inc., and Fulcrum Therapeutics, Inc., each with a Zacks Rank #1 (Strong Buy). Estimates show promising future earnings for these companies, seen in stock performance trends and quarterly earnings surprises. Investors may find these stocks rewarding in the long term.

Looking ahead, Alnylam’s prospects for vutrisiran’s expanded indication and the success of Amvuttra as a revenue driver are key points to watch. The potential for growth in Alnylam’s stock depends on regulatory approvals and market acceptance of their innovative treatments. Investors should monitor developments in the biotech sector and company-specific updates for future investment decisions.



Read more at Nasdaq: ALNY Down Despite Positive Data From Heart Disease Drug Study